LSEG plans to create a blockchain digital asset business, emphasizing the future of tokenization😌
In TradFi news, London Stock Exchange Group (LSEG) announced that they are planning to build a blockchain-based digital assets business, but confusingly, the head of capital markets said that the new exchange "definitely will not be around crypto." Assets build anything... [but] the idea is to use digital technology to make the process smoother, cheaper, more transparent... and regulate it”.
He further stated that the group's mission is to become the first major global stock exchange to provide investors with a complete, blockchain-backed ecosystem covering the entire life cycle of financial assets, which will become independent from the London Stock Exchange. The legal entity of the exchange is expected to start operations in 2024; reading between the lines, it seems that their efforts will be focused on tokenization, which is the topic of greatest concern to TradFi institutions currently and in the short term.